Reader comments at The New York Sun - The Lehman Blame Game Gets Rolling

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The Lehman Blame Game Gets Rolling

Submitted by Brendan, Sep 16, 2008 18:45

To anybody who is familiar with how "the game" is played on Wall Street, John Thain's agility in the midst of the crisis is sure to bring a chuckle and admiration. It is such a classic Wall Street move to attend a meeting with a stated purpose, but to arrive with your own private agenda. He knew LEH was going down, and as soon as it did, MER was the next to go. His was simply a preemptive strike against the circling vultures. And as anyone who is familiar with the Street, self=preservation is always paramount, regardless of whatever words may pass one's lips.

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Other reader comments on this article

Comment	By	Date
AL: Interest income no longer covers interest expense. Happens when rates rise, the payors default on mortgages and pay less,... [MORE]	Joachim Schnabel	Sep 16, 2008 19:05
To anybody who is familiar with how "the game" is played on Wall Street, John Thain's agility in the midst...	Brendan	Sep 16, 2008 18:45
I don't get it. Firms go bankrupt because their cash flow runs out, not because their share price goes down... [MORE]	AL	Sep 16, 2008 15:17
When all the so-called "intellectuals and experts" get done with their guessing as to why this mess occurred, there will... [MORE]	Porterhouse	Sep 16, 2008 10:52
I have a handout (now a classic), dated February 2005, by Rick Rieder, then one of Lehman's chief strategists. He... [MORE]	Joachim Schnabel	Sep 16, 2008 07:52

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The Lehman Blame Game Gets Rolling